Identity is what defines you. Whether if it is a real identity which is certified by government authorities, or online identity which users establishes in the online communities, they are personal data that defines who you are.
Individuals are the core component of any service, and thus their information or data must be easily verifiable and uncompromisable. However, despite efforts made to create such a system by institutions and businesses today, it is undeniable that difficulties and harms still exist within that realm .
What’s after the complex procedures of proving your existence?
Whenever an individual wishes to use an online service that requires “proof of their identity”, users must first undergo frustrating procedures to use that service. In 2016, Thomson Reuters revealed that “89 percent of financial institution customers had not had a good KYC experience, and 13 percent had changed their financial institution as a result”. Even under such a stressful experience, because such digital identities are controlled and managed by service providers, your digital identity cannot define you not only outside of your country, but also outside of one particular service.
Trade-off between service and information
Another key issue we must address is referred to as the “trade-off”. There are two significant “trade-offs” in the digital world. The first “trade-off” occurs between the use of services and one’s personal information. In a practical sense, information such as one’s birthday is often unnecessary to use a service. However, such information is often requested by a service provider when utilizing their service for marketing purposes and user analysis.
The second “trade-off” occurs between the number of services and data vulnerability. An increase in the number of online services one uses correlates to a higher chance of one’s data being leaked. The online world has created a trade-off where individuals are required to provide significant, and often unnecessary, amounts of information to multiple service providers, each of whom are prone to the risk of data breaches when handling their clients’ data.
“As we do more and more of our business online, and as criminals realize the value of the data that organizations are protecting, we’re seeing morse big-name breaches, more high-profile breaches”
- Mark Nunnikhoven, VP of Trend Micro
Identity Integration and Decentralization
your identity data
As individuals, Metadium is dedicated in solving the current identity hassle. Through Metadium protocol, we strongly believe that we can provide the answer to the identity hassle. Our first step is putting you in control of your information through the decentralization of identity. Powered by the “trustless” Blockchain, and Metadium’s decentralized Public Key Infrastructure (dPKI), Metadium enables individuals to securely verify and manage their identities effortlessly providing a truly Trustless Trust Identity Standard for the New Era.
By shifting the ownership of personal data from central authorities to individuals, individuals can manage, protect and use their data only under their own consent. As a global identity protocol, a single attestation will provide proof of your existence offline, online, and borderlessly; a true Identity integration. Because your sensitive information will be decentralized and viewed only with your consent, Metadium breaks the traditional trade-off between service and information. By having you as the consumer personally manage all of your own data, Metadium removes the established norms of providing unnecessary personal information, liberating individuals and firms from data breaches and hacking attempts.
For more information about Metadium, visit our website and join our communication channels : Twitter and Telegram. Learn about our protocol, and share great ideas to inspire greater audience. For inquires, please contact us at hello@metadium.com
